Market Overview

Tickers

Articles

Keywords

Canadian Consortium Signs PPA for 50 MW Solar PV Plant in Ecuador

A Canadian consortium of renewable energy developers including Solexica
Energy Corporation (“Solexica”), JCM Capital (“JCM”) and Radical Energy
Inc. (“Radical”) has signed a 20-year concession agreement with CONELEC
for the purchase of electricity generated by the combined 62.5MWp PV (50
MWac) power plants located in the Republic of Ecuador. The plants are
being developed as a result of strong government support for renewable
energy, demonstrated specifically by the country's innovative and
ambitious non-conventional energy initiatives and regulations –
specifically by CONELEC's feed-in-tariff policy enacted in early 2011.
Under the terms of the agreement, power generated by the plants will be
purchased at US40.03 cents/kWh and distributed to the national
electrical grid.

“These projects combined will represent one of the largest
construction-ready feed-in-tariff based solar PV facilities in Latin
America” Adam Hepworth, CEO of Solexica said. Christian Wray, CEO of JCM
added “that this endeavour is a tremendous stimulant to the local
economy and a much needed supplement to the current energy deficit in
Ecuador.”

In total, the plants are expected to bring over USD $200 million in
investment to the local economy and generate approximately 400
construction jobs.

About JCM Capital (JCM)JCM focuses on financing and the
co-development of renewable energy projects in emerging markets.www.jcmcapital.ca

About Solexica Energy Corporation (Solexica)Solexica is a
Canadian renewable energy developer focusing on Solar PV, geothermal and
wind power projects.www.solexica.com

About Radical Energy (Radical)Radical is a renewable energy
developer located in Quito and was the originator of these solar PV
projects.www.radicalenergy.ca